Bulletin: MI2023003

Dear Associates:

Please be advised that the Michigan Insurance Bureau has approved the new Stewart Title Guaranty Commercial Rate Manual with an effective date of November 20, 2023. (The Rate Manual is attached hereto.) The revisions made are as follows:

1. Rate increases as to general products. Please note that commercial transactions under $1 Million are calculated by tiers (like residential properties) with a maximum of $2,150.00.
2. Clarification that the Master Policy Rate for unimproved residential properties (which properties qualify for the Master Policy Rate) is included in the Commercial Rate Manual.
3. The Reissue Credit is changed to a flat rate of 15% when an existing owner’s policy is delivered to the Company.
4. Clarification of Construction charge as to the application of credits.
5. Refinance credit is changed with a flat 30% credit to the Original Charge.
6. Supervised Transactional Policies threshold moved from $20 Million to $50 Million.
7. Note changes to the charges for some endorsements.
8. Addition of CLTA 104.6 and CLTA 104.7 Assignments of Rents and Leases endorsements as approved forms.

Agents and Offices are directed to contact Property Info Customer Care or your title production software vendor to advise them of the new rates and forms and the effective date of November 20, 2023, for implementation.

If you have any questions relating to this or other bulletins, please contact a Stewart Title Guaranty Company underwriter.

For on-line viewing of this and other bulletins, please log onto www.vuwriter.com.